Upbit to Temporarily Suspend INIT Deposits and Withdrawals for Network Upgrade

Published: 2026-02-11 03:02:31 |

Upbit will temporarily suspend deposits and withdrawals for the Inicia (INIT) token starting at 13:00 UTC on February 16 to support a planned network upgrade. Spot trading of INIT on Upbit will remain available during the maintenance window. No end time was specified; the exchange said it will publish a follow-up notice once services resume. The suspension is a routine, safety-first measure to take a precise snapshot of user balances, update wallet software, and prevent transaction errors during the upgrade. Upbit emphasized that this is not a security incident and users’ INIT holdings remain secure. Traders are advised to complete pending deposits or withdrawals before the 13:00 UTC cutoff; transactions not confirmed by the deadline may be delayed or require manual review. The announcement reflects standard exchange protocol and South Korea’s strict regulatory environment for licensed crypto platforms.

Neutral

This is a routine, planned maintenance event rather than a security incident or unexpected outage. Past similar suspension windows for network upgrades on major exchanges (e.g., Binance, Coinbase) have typically produced little direct price movement; markets usually treat clear, well-communicated maintenance as neutral. Short-term effects could include minor liquidity shifts or widened spreads for INIT as some users delay trading around the maintenance cutoff, and manual-processing delays might briefly affect deposit/withdrawal flow. Because spot trading remains active on Upbit, immediate price discovery can continue, reducing systemic disruption. Long-term impact depends on the upgrade’s substance: successful technical improvements (security, scalability, staking) can be positive for INIT’s fundamentals, while a failed or problematic upgrade could be negative. For traders: expect neutral-to-low volatility tied directly to the maintenance window, monitor official resume notices, and avoid initiating deposits/withdrawals close to the cutoff to prevent delays.